5 Simple Tips for Developing Assets From Youth

 

Before you read this article to the bottom, try asking yourself one question first:

If you lose your job or regular income, how many months can you survive without income from your previous job or regular income?

The Covid-19 pandemic that has occurred has taught us that many professionals are successful at their jobs but have financial problems.

All of this is due to savings or investments that are 'perfunctory'.
However, it will be different if the investment has provided regular passive income, so they will have better finances.

In financial planning, there are 5 things that are the main key so that everyone can have better finances:

1. Set aside your income at least 20%. Invest in things you understand and don't let us invest because 'people say'.
2. Do it with discipline and consistently. Remember again that consistency is king.
3. Is your income getting higher? This means that what is set aside for investment must also be higher.
4. If we get a commission or annual bonus? Remember don't spend it all. Set aside 50% for savings. Because with savings, we can use it if there is an opportunity in front of our eyes that we can achieve. What is the example like? The price of the stocks we invest in suddenly drops a lot and gets discounted, so if it's interesting but nothing is there, then it's just an advertisement.
5. Invest your money in assets or businesses that can give you passive income every month/year.

If you always do this continuously until your income increases, then your investment assets will also increase.
Don't let it be when your income is big, but you don't have any investment assets.

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